VOL. XXXIX

No. 52

23-September-1996

EGYPT

Seagull Energy Purchases Esso's Egyptian Assets

Seagull Energy Corp. announced in Houston on 18 September that it has acquired Esso's Egyptian assets for a total of $74mn. These include Esso's interests in two concessions: (1) the offshore East Zeit permit in the Gulf of Suez, which is operated by Esso Suez Inc. under a production sharing contract with the Egyptian General Petroleum Corporation (production from this permit averaged about 16,000...